Leading private banker HDFC Bank today said its artificial intelligence based chatbot EVA became country’s largest banking chatbot having addressed more than 2.7 million customer queries in six months.
EVA is developed by Senseforth AI Research and is claimed to India’s first AI based banking chatbot and was deployed in March 2017. Since then EVA has interacted with over 530,000 unique users holding 1.2 million conversations and addressing their 2.7 million queries with swift ease.
EVA, which stands for Electronic Virtual Assistant, is a chatbot built using the latest NLP and AI technologies. HDFC Bank launched EVA to offer true power of conversational experience to its customers on all the digital platforms such as the Website, Mobile site and the dedicated portal for the bank’s customers. With EVA, customers can get quick access to the Bank’s product details, fees and charges for various products, application processes, branch IFSC Codes, and a lot more information at a faster rate than talking to an agent.
“Eva currently handles 50,000 plus semantic variations for thousands of banking related intents. Eva tracks and analyses everyday customer issues and gains a deeper understanding of their behaviour patterns.” said Shridhar Marri, CEO and Co-Founder, Senseforth. Thousands of users provide constructive feedback to Eva on a daily basis which helps in enhancing her knowledge repository. “Eva’s everyday interactions with users go through a conceptual banking knowledge framework which in turn enhances her ability to field more questions accurately. Eva never sleeps and her learning never stops!” Shridhar added.
“We are delighted that EVA has done gained significant traction and the endeavour is to leverage on new technologies like AI to serve customers better through our Chatbot. Continuous focus on creating customer value has helped EVA acquire market acceptance within a short period,” said Nitin Chugh, Group Head of Digital Banking at HDFC Bank Limited.
Information which might generally take an average of 8-10 minutes to obtain, is provided by Eva in a matter of seconds. This makes Eva faster than all other modes of interaction for various information related queries around cards, loans, accounts etc. With an accuracy level of over 85% and uptime of 99.9%, EVA is making purposeful strides towards her ultimate goal of revolutionizing the customer interactions through conversational interfaces.
By becoming the country’s largest banking chatbot, Eva has made a huge impact in India’s AI space. Besides answering queries, Eva has generated a large volume of business leads for the bank in the last six months. Eva has also become an instant hit with the users. An HDFC Bank customer from Pune had this to say, “This is a good initiative by HDFC Bank. It answered all my questions easily.” Another user praised Eva, stating “She is learning well and answering great!!”